Cash in on the war between inflation and deflation

Investors can still make a profit no matter who emerges as the winner in this battle.

Some of the world's highest-profile economists and investors are warning that inflation may be on its way back and could hit double figures in the next five years.

Harvard professor Niall Ferguson has spoken of a "clash of the titans" between the competing forces of inflation and deflation - or Godzilla versus King Kong - and, on balance, thinks inflation is the bigger risk due to the "double danger of printing money and excessive \ deficits".

Now the hedge fund advised by best-selling author Nassim Nicholas Taleb is launching a fund that seeks to profit from the return of hyper-inflation.

Taleb's 2007 book The Black Swan warned of the impact of highly improbable events on world markets. US hedge fund Universa, with which he is associated, is now launching the Black Swan Protection Protocol-Inflation fund.

It will invest in commodities such as oil, copper and corn and will also "short" government bonds